Expedia issues make-whole calls for $1 billion of 2023, 2024 notes

By William Gullotti

Buffalo, N.Y., May 13 – Expedia Group, Inc. delivered notices of redemption to the holders of its $500 million of 3.6% senior notes due 2023 and the holders of its $500 million 4.5% senior notes due 2024, according to an 8-K filing with the Securities and Exchange Commission.

The 2023 notes, issued July 14, 2020, will be redeemed on May 30 at a redemption price equal to the greater of par and the sum of the present values of the remaining scheduled payments, discounted at Treasuries plus 50 basis points.

The 2024 notes, issued Aug. 18, 2014, will be redeemed on June 13 at a redemption price equal to the greater of par and the sum of the present values of the remaining scheduled payments, discounted at Treasuries plus 35 bps.

In both cases, regardless of the redemption price, accrued and unpaid interest will be paid up to, but excluding, the redemption date.

Expedia is a Bellevue, Wash.-based online travel company.

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